Protagonist Therapeutics (NASDAQ:PTGX) CEO Sells $5,085,176.28 in Stock

Protagonist Therapeutics, Inc. (NASDAQ:PTGX) CEO Dinesh Ph Patel sold 34,239 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $148.52, for a total value of $5,085,176.28. Following the completion of the sale, the chief executive officer owned 523,478 shares in the company, valued at $77,746,952.56. This trade represents a 6.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Protagonist Therapeutics Price Performance

Shares of Protagonist Therapeutics stock opened at $155.10 on Friday. The company has a 50 day simple moving average of $129.77 and a two-hundred day simple moving average of $107.59. Protagonist Therapeutics, Inc. has a 1 year low of $54.18 and a 1 year high of $155.53. The firm has a market cap of $10.04 billion, a PE ratio of 150.58 and a beta of 1.78.

Protagonist Therapeutics (NASDAQ:PTGX) last issued its earnings results on Wednesday, August 5th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.02. The company had revenue of $213.47 million during the quarter, compared to analysts’ expectations of $212.03 million. Protagonist Therapeutics had a return on equity of 12.03% and a net margin of 29.40%.The firm’s quarterly revenue was up 3746.8% compared to the same quarter last year. As a group, research analysts anticipate that Protagonist Therapeutics, Inc. will post 4.22 earnings per share for the current year.

Institutional Trading of Protagonist Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jupiter Topco LLC purchased a new stake in Protagonist Therapeutics in the second quarter worth about $261,039,000. Elmind Capital LP purchased a new position in Protagonist Therapeutics during the 2nd quarter valued at about $4,658,040,000. J. Goldman & Co LP bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at about $1,154,000. ADAR1 Capital Management LLC bought a new stake in shares of Protagonist Therapeutics in the 2nd quarter valued at about $117,783,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Protagonist Therapeutics in the 2nd quarter worth approximately $3,198,000. 98.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. The Goldman Sachs Group upgraded Protagonist Therapeutics from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $186.00 in a research note on Monday. UBS Group upgraded shares of Protagonist Therapeutics to a “buy” rating in a research report on Monday. Weiss Ratings upgraded shares of Protagonist Therapeutics from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday. Zacks Research downgraded Protagonist Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Protagonist Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.86.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc (NASDAQ: PTGX) is a clinical-stage biopharmaceutical company focused on the development of novel, orally administered peptide-based therapies for immune-mediated and other serious diseases. The company leverages its proprietary Peptide 2.0 platform to design peptides that target G protein–coupled receptors and cytokine receptors, with the goal of combining the potency of biologics with the convenience of oral administration. Protagonist’s approach aims to address unmet medical needs in areas where injectable therapies have been the standard of care.

Among its lead programs is PTG-100, an oral ?4?7 integrin antagonist intended to block leukocyte migration to the gut in ulcerative colitis and Crohn’s disease.